Harbor Continues Buying Spree
LONG BEACH, Calif., Feb. 23, 2018 /PRNewswire/ — Harbor Associates, LLC (“Harbor”) has acquired The Commons at Valencia Gateway via an all-cash deal in a joint venture with Goldman Sachs Asset Management Private Real Estate (“GSAM PRE”). The project is a two building, 156,628 SF office campus on 10.25 acres located at 25124 & 25152 Springfield Court in the city of Valencia, California. The portfolio is currently 81% leased to fifteen tenants. Tom Bohlinger, Ryan Smith and Justin Hager of JLL represented the seller in the transaction.
Harbor plans to renovate the common areas and build out new spec suites to provide a best-in-class workplace for the Santa Clarita Valley while implementing energy saving improvements like EV charging stations. Upgraded gathering areas including an outdoor patio overlooking the adjacent Valencia Country Club golf course will be core elements of the asset repositioning strategy. The vacant office suites will receive new finishes throughout including LED lighting to bring the suites into a more marketable condition.